State train makers under fire for poor standards

A senior rail official has criticised the quality and safety standards of the mainland’s growing fleet of high-speed trains, a serious blow for the country as it fast tracks construction of what will be the world’s largest high-speed train network.

Admiral says PLA’s strength, intentions should be displayed

Beijing should not be shy of displaying the full breadth of its growing military power and intentions to the world, a senior naval officer wrote in comments published yesterday.

Online fury at life of luxury in prisons

Mainland internet users are up in arms after pictures of a series of luxurious new prisons were posted online this week, a stark contrast to the shabbily built “tofu” schools that collapsed in last year’s Sichuan earthquake trapping more than 5,000 children.

China won’t pull plug on stimulus next year

China’s Politburo, the Communist Party’s top decision-making body, said the nation will maintain stimulus policies next year as the world’s third-biggest economy recovers from the global slump.

Corporate shakeup at emirate on the cards

Related companies could be sold, broken up or merged as Dubai struggles with its debt load

Abu Dhabi steps up as debt spoils Dubai’s model

Dubai’s debt troubles have exposed the fallacy of its once much-vaunted ‘model’ of raising shining cities in the desert with foreign residents, finance and labour.

Executive directors hit back; war of words at Sino-Environment escalates

Sino- Environment’s three executive directors (EDs) have hit back at the company’s independent directors as a war of words continues to escalate.

Debt default shadow on Dubai’s sand castle

Eckart Woertz, an economist with Dubai’s Gulf Research Centre, told the Financial Times: ‘This will destroy confidence in Dubai - the whole process has been so opaque and unfair to investors.’

Many are finding the news hard to swallow, particularly as senior Dubai officials had over the past few months taken steps to reassure investors that the emirate would still be able to meet all its existing debt obligations. Nakheel, for one, is due to pay back US$3.5 billion on a maturing Islamic bond on Dec 14.

Dubai debt delays revive fear of financial crisis

Investors recoiled from risky assets on Friday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the financial turmoil of the credit crisis.

Rumours swirl as top TV series blacked out

Authorities in Beijing have blacked out a daring TV series highlighting rising property prices on the mainland because of the sensitive issue and scripts, according to media reports.

Party chief vows to crack down but excessive measures will be avoided

Dongguan authorities have vowed to clamp down on prostitution, but said excessive measures and blanket closures would be avoided.

Wal-Mart price pressure hurts mainland workers

Wal-Mart Stores’ demand for rock-bottom prices from suppliers in the mainland means some of these companies are forcing their employees to work in sweatshop-like conditions, a new report said on Wednesday.

Crackdown fails to scare Dongguan’s sex-trade veterans

They work in hotels, saunas, massage parlours and karaoke bars; an army of 300,000 whose existence is unacknowledged, whose activities are illegal, and whose industry is irresistibly lucrative and impossible to wipe out.

New issue of Caijing reflects sombre mood in empty newsroom

The latest issue of Caijing magazine - the first since the departure of high-profile editor Hu Shuli, who founded the influential business publication 11 years ago - has appeared, with a sombre mood prevailing in the newsroom.

Saab nears end of the road with no bidders

General Motors Corp does not expect to find new bidders for Saab and may shut the bankrupt unit after Koenigsegg Group cancelled a planned acquisition, people familiar with the matter said.

Minsheng shares fall 3pc on debut

China Minsheng Banking Corp fell a disappointing 3 per cent in its Hong Kong debut on Thursday after raising US$3.9 billion in the world’s fifth largest IPO this year, underscoring how sentiment for mainland banks has soured recently.

Mainland stock bubble to burst next year, says Morgan Stanley

Mainland’s ballooning stock market bubble, fuelled by excessive liquidity, is likely to burst in the first half of next year, punctured by economic concerns arising from higher-than-expected inflation, Morgan Stanley Asia executive director Jerry Lou said on Thursday.

Dubai shocks with debt delay, units cut to junk status

Two major credit ratings agencies downgraded several Dubai government-related entities after the government overnight on Wednesday said it will ask creditors of two flagship firms for a delay on billions of dollars of debt.

Investors jailed in Hong Kong's largest market fraud case

Four investors found guilty in Hong Kong’s largest market-manipulation case were sentenced to 26-30 months in prison by a Hong Kong court on Thursday.

China Tightens Rules on Transfers to Stop ‘Hot Money’

China tightened rules on individuals transferring yuan and foreign exchange between bank accounts after speculation the nation’s currency will strengthen caused a surge in capital inflows.